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Bo Harald

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Bo Harald - ZEF and Real Time Economy Program

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Fintech innovation and startups

Fintech innovation and startups

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Real Time Economy for EU - How?

20 March 2017  |  3743 views  |  0

Previous posts have aimed at describing the big picture: 

https://www.finextra.com/blogposting/13835/real-time-economy-for-eu---big-picture

The very compelling Why - the Mission

https://www.finextra.com/blogposting/13836/real-time-economy-for-eu---why

The What - the targets in the Vision

https://www.finextra.com/blogposting/13847/real-time-economy-fo-eu---what

So now it is time to go for the How? Too often called strategy - when it really is a to-do list - to get to the vision - delivering on the mission.

The concrete service development work is done in member states (MS). What can they do more? Decide that it is time to go for the wide concept of Real Time Economy, understand and communicate the big picture, set deadlines for unstructured data, deliver open interfaces, go public-private all over, encourage competition and choose the most important building blocks. But above all see to it that communication between ongoing and starting projects and networks is improved many times over. The silo-effect is getting worse as the speed is increasing and so much is going on. 

What can EU do more? Very much the same - decide for RTE for EU (Single Market), support all the building blocks, observe and support ongoing work and planning in member states, share best practises and above all drive standardization. PSD2 philosophy for all data - not only transaction accounts. The all-important thing is to address the x-silo information. Some form of task force and co-ordination resources surely needed. In short strong focus on the biggest productivity jump. Less on nitty-gritties.

RTE - What TagsMobile & onlineInnovation

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